By Akintunde Oyedokun
Research Analyst
Crude prices sank 2% Monday, with Brent at $64.21 and WTI at $60.70, marking the lowest close since April 2021. The decline followed heightened U.S.-China trade conflict, with China retaliating against U.S. tariffs and Trump threatening even steeper levies. EU also announced counter-tariffs. Market volatility spiked amid mixed signals on tariff pauses. Fears of a global recession intensified, with Goldman Sachs, Citi, and JPMorgan all slashing oil forecasts and warning of rising recession risks.
U.S. Tariffs Threaten Germany With Third Year of Recession
U.S. tariffs are expected to hit Germany’s export-heavy economy hard, raising the risk of a third consecutive year of recession. With a €70 billion trade surplus with the U.S. in 2024, Germany stands to lose the most in a trade war, facing reduced exports to both the U.S. and China, and tougher global competition. A proposed €500 billion stimulus may support long-term recovery, but economists warn its impact won’t be immediate and call for structural reforms over subsidies.
Bolivia Faces Economic Crisis As Inflation, Shortages Mount
Bolivia is grappling with its highest inflation in nearly two decades, fueled by a shortage of fuel and dollars. Prices for food and energy have surged, forcing families like Angelica Zapata’s to make difficult sacrifices, such as reducing meals to just one a day.
Declining gas production has worsened the crisis, leading to more expensive imports and rising costs across the board. As inflation continues to climb, many Bolivians are struggling to afford even basic necessities.
Egypt’s Inflation Drops In March, Central Bank May Cut Rates Cautiously
Egypt’s inflation is expected to have fallen in March, with analysts predicting a modest interest rate cut by the Central Bank on April 17. Despite a decline from 12.8% in February to 12.6%, global market risks may limit the size of the rate reduction. Inflation has been steadily decreasing since its peak of 38% in September 2023.
NERC Announces 94.61% Energy Offtake In Q4 2024, Takes Action Against Under–performing DisCos
The Nigerian Electricity Regulatory Commission (NERC) reported a 94.61% energy offtake performance by distribution companies (DisCos) in Q4 2024, marking a 4.14% increase from the previous quarter. While five DisCos exceeded the 95% target, Yola DisCo lagged with 76.89%. NERC has begun enforcing sanctions for those failing to meet the threshold, highlighting the critical role of DisCo performance in Nigeria’s power sector efficiency and financial health.
